Economics
German Business Climate Drops in Sign of Economic Risks
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German business confidence dropped more than economists predicted to the lowest level since October as weaker growth and escalating tensions in Ukraine weigh on the outlook for Europe’s largest economy.
The Ifo institute’s business climate index, based on a survey of 7,000 executives, fell to 108 from 109.7 in June, marking the third straight monthly decline. Economists predicted a reading of 109.4, according to the median of 35 estimates in a Bloomberg News survey.